Reinsurance News
Reinsurance broking news
Reinsurance broker news, analysis and insight, covering reinsurance broking market developments, trends and opportunities.
Reinsurance brokers have a core role to play in the market, so we frequently cover news related to their activities and also interview senior reinsurance broking executives as well.
Ed Broking plans to open Bermuda office in 2019
10th December 2018
Ed Broking, the globally active reinsurance, wholesale and specialty insurance broker, is planning to open its first office in Bermuda in 2019, the latest expansion for the firm. Ed Broking is already active across Europe, Asia and the United States, with offices in London, Hong Kong, Beijing, Shanghai, Singapore, Dubai, Paris, ... Read the full article
Gallagher acquires brokerage firms in UK, New Zealand
10th December 2018
Global insurance broker, risk management and consulting firm Gallagher has announced the acquisition of two insurance broker firms, expanding its footprint across the South West of England and New Zealand. With offices in Torquay, Exeter and Holsworthy in Devon, and Highbridge in Somerset, leading South West commercial insurance broker Pavey Group ... Read the full article
Brokerslink CEO Jacqueline Legrand resigns
7th December 2018
The Chief Executive Officer of Brokerslink, Jacqueline Legrand, has announced her resignation from the role in order to take on a new professional opportunity and reunite with her family, the company has said. Legrand was first involved with Brokerslink in 2009 when she held the position of Chief Operating Officer at Brokerslink, ... Read the full article
Ed appoints Willis Re’s Jo Kendall as Head of Cat & Exposure Management
6th December 2018
Global re/insurance broker Ed has announced the appointment of Jo Kendall as Head of Catastrophe & Exposure Management. Kendall, who brings 15 years of industry experience to the role, will be reporting to the Group Chief Actuary, Jonathan Tilman. She joins from Willis Re, where she led the London specialty cat modelling ... Read the full article
Arthur J. Gallagher acquires IBS Re Singapore, takes stake in Indonesian broker
3rd December 2018
Arthur J. Gallagher & Co., the U.S. global insurance brokerage and risk management services firm, has acquired 100% of reinsurance broker IBS Re Singapore, in addition to taking a 40% stake in Indonesian broker PT IBS Insurance Broking Service. Based in Jakarta, PT IBS Insurance Broking Service has revenues of over ... Read the full article
PI premiums to rise as construction market hardens, warns JLT Specialty
3rd December 2018
JLT Specialty, the specialist insurance broker and risk consultant, has warned that contractors could face a significant increase in professional indemnity (PI) premiums as the construction market begins to harden. Greater regulatory scrutiny and uncertainty regarding cladding systems following the Grenfell fire has led many insurers to scale back on capacity ... Read the full article
New Lloyd’s broker Marken Re announces launch
29th November 2018
Marken Re Specialty Limited, a newly formed specialty re/insurance broker that will operate from Lloyd’s of London, has been launched by the company’s founders Pieter Vlasbloem and Nathan Parke. "Our goal is to enhance the development of our clients by providing them with the most reliable and optimal (re)insurance solutions, with ... Read the full article
AFL launches joint South America venture with Special Division
29th November 2018
Independent Lloyd’s broker AFL Insurance Brokers Ltd has launched AFL Sud America LLC as part of a joint venture with Special Division Reinsurance Brokers, one of the largest reinsurance brokers in South America. The business was formed after AFL acquired a stake in Special Division’s Cooper Gay Argentina LLC business, which ... Read the full article
WTW’s ResQ software to help insurers implement IFRS17
29th November 2018
Global re/insurance broker Willis Towers Watson is to launch new software in early 2019 aimed at helping businesses implement IFRS17, one of the most significant and complex changes to insurance accounting requirements in over 20 years. When launched, ResQ Financial Reporter will provide insurers with a framework to generate financial statements ... Read the full article
Compass awarded term life product contract by Habito
27th November 2018
London-based firm Compass Underwriting has won the underwriting and service contract to provide term life mortgage cover for Habito, a digital mortgage broker. Underwritten by AIG Life, the policy will match the period of the mortgage and can cover single or joint applicants. It also offers up to 90 days of cover ... Read the full article
Marsh granted first captive management licence in Abu Dhabi
27th November 2018
Global re/insurance broker Marsh has been awarded the first licence to provide captive insurance management services in Abu Dhabi. The firm, operating as Marsh Management Services (MENA) Limited, has been authorised by Abu Dhabi Global Market’s (ADGM) Financial Services Regulatory Authority (FSRA). The AGDM is the international financial centre in the capital ... Read the full article
Arthur J. Gallagher acquires two California-based P&C brokers
27th November 2018
U.S. global insurance brokerage and risk management services firm Arthur J. Gallagher & Co. has expanded its presence in California with the acquisition of property and casualty (P&C) brokers Buckman-Mitchell, Inc. and R.T. Beers & Company Insurance Services, Inc. Buckman-Mitchell is a retail P&C and employee benefits agency and consultant that ... Read the full article
Stephen Fromm appointed Vice Chairman, TigerRisk Capital Markets & Advisory
26th November 2018
Reinsurance brokerage, risk and capital strategic advisory TigerRisk Partners LLC has announced the appointment of Stephen Fromm as Vice Chairman, TigerRisk Capital Markets & Advisory. Fromm has been in private practice since 2016, advising a number of start-up, fintech and financial services companies. Previously he was Managing Director and Vice Chairman of ... Read the full article
Downstream energy sector to see turnaround after years of losses: WTW
23rd November 2018
Price increases in the downstream energy re/insurance sector are now inevitable after years of unprofitable returns and major losses, according to re/insurance broker Willis Towers Watson (WTW). The November 2018 edition of the firm’s Energy Market Review noted that 2017 was the second worst underwriting year on record for the sector ... Read the full article
Wildfire losses to surpass $10bn as property toll reaches 20,000 mark: Aon
23rd November 2018
As the number of properties destroyed by the recent Camp and Woolsey Wildfires in California reaches 20,152, re/insurance broker Aon has claimed that the total economic impact is likely to “minimally exceed US $10 billion; likely higher,” with a majority of these losses covered by re/insurers. While Aon stipulated that it ... Read the full article
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